"This is part of our support of the vision of the country’s leadership to diversify the national economy in a post-oil era."

Trade in steel and building material reached (AED13.5bn) during 2016, with further increases expected as the free zone continues to develop services for companies in the sector, Emirates News Agency reported, quoting Jafza.

Jafza has more than 967 companies operating in the steel and building materials sector from 87 countries around the world. Around 37% are Middle East-based, 27% are from the Asia-Pacific region, 26% from Europe, 7% from North America, and 3% from Africa.

Meanwhile, Indian businesses have the largest share, with 14%, and UAE-based companies at 13%. The sector employs more than 18,000 people, which is 13% of the total number of Jafza-sponsored employees.

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